Clear Secure (NYSE: YOU) CEO donates 200K shares after equity restructuring
Rhea-AI Filing Summary
Clear Secure, Inc.’s CEO Caryn Seidman Becker reported several non-market equity moves involving Class A and Class B common stock. On Class B shares, 200,000 were disposed of, leaving 151,787 Class B shares held indirectly, which carry 20 votes per share and associated economic rights.
Per the company’s charter, each share of Class B common stock was converted into one share of Class A common stock. Around the same time, 200,000 Class A shares were acquired indirectly and then transferred for no value from Alclear Investments, LLC, which Ms. Seidman Becker controls, into her direct ownership as a change in the form of beneficial ownership.
She then made a bona fide gift of 200,000 Class A shares to a 501(c)(3) charitable foundation, receiving no value in return. These events reflect entity restructuring and charitable giving rather than open-market buying or selling.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Class A Common Stock | 200,000 | $0.00 | -- |
| Other | Class A Common Stock | 200,000 | $0.00 | -- |
| Gift | Class A Common Stock | 200,000 | $0.00 | -- |
| Disposition | Class B Common Stock | 200,000 | $0.00 | -- |
| Grant/Award | Class A Common Stock | 200,000 | $0.00 | -- |
Footnotes (1)
- Pursuant to the terms of the Issuer's Certificate of Incorporation, each share of Class B common stock of the Issuer ("Class B Common Stock") was converted into a share of Class A common stock of the Issuer ("Class A Common Stock") on a one-for-one basis. Shares of Class B Common Stock have 20 votes per share and economic rights (including rights to dividends and distributions upon liquidation). Alclear Investments, LLC is controlled by Ms. Seidman Becker, its sole manager, who has dispositive control and voting control over the shares held by Alclear Investments, LLC. Represents a transfer for no value from Alclear Investments, LLC to the reporting person in connection with the gift transactions reported herein. The reporting person believes that the transfer constitutes a change in form of beneficial ownership of the shares, exempted by Rule 16a-13 under the Securities Exchange Act of 1934. This transaction represents a gift / donation to a 501(c)(3) charitable foundation. No value was received for the gifted shares.